Medical Office Building with Indoor
For Sale
$1,595,000
1-1214 W Reynolds St, Plant City, FL 33563
Single-story medical office property with two independently accessed suites and separate electric meters.
Property Size6,118 SF
Price / SF$260.71
Days on Market14
Property Features for 1-1214 W Reynolds St
General Information
Standard status
Active
Size
6,118 SF
Zoning
C1-A
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$19,924
Building Details
Buildings
1
Stories
1
Listing Agency:
COMPASS FLORIDA LLC
(813) 967-0168
Listed By:
Malissa Crawford · License #3171589
(813) 967-0168
Source:
Exprealty
Added: Aug 3
Changed: Aug 15
Last Checked: Aug 16 at 11:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This 6,118-square-foot, single-story medical office property is divided into two separately configured suites. Suite 1 contains approximately 4,818 square feet, with an open layout, waiting area, two private offices, three bathrooms, and an indoor pool with a private shower. The space was previously occupied by a physical therapy practice. Suite 2 measures approximately 1,300 square feet and includes four enclosed office or service areas, two bathrooms, and glass-partitioned interiors in a contemporary configuration.
Each suite has its own entrance and electric meter, while the building shares water and sewer service. The property occupies a corner lot at Highway 92 and Reynolds Road in Plant City, within the city limits. C1-A zoning applies. Intended use, occupancy, licensing, and permitting should be confirmed with the appropriate governmental authorities.
Each suite has its own entrance and electric meter, while the building shares water and sewer service. The property occupies a corner lot at Highway 92 and Reynolds Road in Plant City, within the city limits. C1-A zoning applies. Intended use, occupancy, licensing, and permitting should be confirmed with the appropriate governmental authorities.
Key Highlights
- 6,118‑square‑foot single‑story medical office property
- Two suites measuring approximately 4,818 square feet and 1,300 square feet
- Indoor pool with private shower in the larger suite
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,428
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,128,560
$1.1M
Cap Rate 7%
$806,114
$806.1K
Cap Rate 9%
$626,978
$627.0K
Market Conditions
NOI Build-Up for 6,118 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$102.8K $16.80/SF
− Vacancy
−$8.7K −$1.43/SF
EGI
$94.0K $15.37/SF
− OpEx
−$37.6K −$6.15/SF
NOI
$56.4K $9.22/SF
Area
Hillsborough County, FL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,128,560
Cap Rate 7%
$806,114
Cap Rate 9%
$626,978
Alternative Uses
Best Use
Healthcare Medical
$806.1K
$705.4K – $940.5K
NOI $56,428 @ 7.0% cap · market cap 3.54%
Second Best
Office B
$589.8K
$516.1K – $688.1K
NOI $41,285 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,027 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33563, FL
27,344
Population
10,794
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
15.1 sq mi
ZIP Area
1,811
Density / Sq Mi
$56,318
Median Household Income
$35,142
Median Earnings
$1,226
Median Rent
$197,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story medical office property with two independently accessed suites and separate electric meters.
Where is this medical office space located?
The property is located at 1-1214 W Reynolds St Plant City, FL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 6,118‑square‑foot single‑story medical office property; Two suites measuring approximately 4,818 square feet and 1,300 square feet; Indoor pool with private shower in the larger suite
